1.3 Objectives

Question 1

Objectives - MAIN INVOLVED (6)

Answer 1

Corporate Social Responsibility, Profit Maximisation, Satisficing, Managerial Objectives, Mission statements, Growth.

Question 2

CORPORATE SOCIAL RESPONSIBILITY (AIM/DES-ADV10)

Answer 2

To act ethically, gaining trust by improving work conditions of employees & treatment of staff./ Paying staff living wage, ethical marketing, recycling reducing waste, minimise packaging, No polluting, suppliers have same standards./ Reduces carbon footprint, Creates new safety measures, Motivate staff, recycling reduces costs.

Question 3

PROFIT MAXIMISATION- (AIM/DES- FACOTORS6)

Answer 3

Aim making much profit as possible, can be done= charge high prices/low costs=comp and growth make difficulty./ Higher profits=more investments. Seen sign of success. High prices=negative rep. Low costs=affect quality. High profits=higher claims. High profits=Competition.

Question 4

SATISFICING- AIM/DES-

Answer 4

Aim ensuing stakeholders are happy, just do enough to reach objectives=lack of finance/low economic growth.

Question 5

MANAGERIAL OBJECTIVES- (DES/AIM/EX6)

Answer 5

Managers make decision determine success/direction. MAY maximise sales to increase own salary, benefits, importance. PROFIT MAX=WORK IN BUDGET=SER=SALES/REV MAX=GROWTH=SURVIVAL.

Question 6

MISSION STATEMENT (DES/BEN)

Answer 6

Summaries strategic aims of business=issued to all./ Show business plans effects. How bus will treat everyone. Motivate staff as direction. Reassure emp/stake. Opportunity to improve rep. Attract high quality candidates recruitment.

Question 7

GROWTH - AIM

Answer 7

To survive how to change over time to keep with demand.

Question 8

AIMS AND OBJECTIVES

Answer 8

SURVIVAL, INCREASED PROFITS, INCREASE MARKET SHARE, SATISFICING, MANAGERIAL OBJECTIVES, CER, PROVIDE QULAITY SERVICE.